RELEVANCE OF MICROFINANCING IN INDIA: AN OVERVIEW

EXCEL International Journal of Multidisciplinary Management Studies ________________ ISSN 2249- 8834
EIJMMS, Vol.4 (10), OCTOBER (2014), pp.85-94
Online available at zenithresearch.org.in
RELEVANCE OF MICROFINANCING IN INDIA: AN OVERVIEW
DR. RAJESH KUMAR JHAMB
LECTURER,
GOVT. POLYTECHNIC FOR WOMEN, SECTOR 10-D, CHANDIGARH.
ABSTRACT
Micro financing has emerged as a significant and well recognized buzzword in the today’s
financing environment. The basic objectives of micro finance are developing the financial
forecasting and continuous saving practices among the large numbers of people in India
especially in the rural areas. There is growth potentials for the growth of micro financing in India
due to more than two third population of India belongs to rural area and whereas only one third
population has bank deposits. The newly elected NDA govt. come with an innovative idea of
connecting people especially from rural and remote areas with banking industry by launching
PRADHAN MANTRI JAN DHAN YOJANA. the vision of govt. is economic liberalization
and opportunities of development and growth of India with the help of micro financing. The
challenge, there for is to link the large number of people with the banking industry in India by
way of cost effectiveness, sustainability and growth at a micro level.
KEY WORDS: Microfinance, Sustainable Development, Banking.
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EXCEL International Journal of Multidisciplinary Management Studies ________________ ISSN 2249- 8834
EIJMMS, Vol.4 (10), OCTOBER (2014), pp.85-94
Online available at zenithresearch.org.in
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